Blue Water Properties Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08420782 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2017

for

Blue Water Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L T Joyce

REGISTERED OFFICE:

21 Church Road

Parkstone

Poole

Dorset

BH14 8UF

REGISTERED NUMBER:

08420782 (England and Wales)

ACCOUNTANT:

Richard Allen & Associates

21 Church Road

Parkstone

Poole

Dorset

BH14 8UF

FIXED ASSETS

Investment property

4

135,000

130,000

CURRENT ASSETS

Debtors

5

2,544

5,040

Cash at bank

4,542

5,096

7,086

10,136

CREDITORS

Amounts falling due within one year

6

44,237

47,990

NET CURRENT LIABILITIES

(37,151

)

(37,854

)

TOTAL ASSETS LESS CURRENT LIABILITIES

97,849

92,146

CREDITORS

Amounts falling due after more than one year

7

(81,124

)

(81,124

)

PROVISIONS FOR LIABILITIES

(3,381

)

(2,411

)

NET ASSETS

13,344

8,611

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

13,342

8,609

SHAREHOLDERS' FUNDS

13,344

8,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 4 July 2017 and were signed by:

L T Joyce - Director

1.	STATUTORY INFORMATION

Blue Water Properties Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2016

130,000

Reversal of impairments

5,000

At 28 February 2017

135,000

NET BOOK VALUE

At 28 February 2017

135,000

At 29 February 2016

130,000

Cost or valuation at 28 February 2017 is represented by:

£

Valuation in 2014

22,827

Valuation in 2017

5,000

Cost

107,173

135,000

If investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

107,173

107,173

Investment property was valued on an open market basis on by Mr L Joyce .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

554

554

Other debtors

1,990

4,486

2,544

5,040

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other creditors

44,237

47,990

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

81,124

81,124

2017

2016

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgage

81,124

81,124

8.	RELATED PARTY DISCLOSURES

At the year end Trade Price (UK) Conservatories, Windows & Doors Limited, a company controlled by the

director Mr L T Joyce, was owed £43,181 (2016 - £47,053)